InterActive (ticker: IACI) presented at Goldman Sachs Global Investment Research Communacopia XIV Conference on September 21st. Here are comments by CEO Barry Diller about CitySearch, and the synergies between that business and Ask Jeeves:
City Search has a product for everyone. 23 million monthly unique. That is very large. No one would have thought really two years ago when it had eight -- about eight, topping at eight at the high (inaudible) -- That we could ever get to the level of traffic that we now have. That is an enormous amount of traffic in our local business.
Our local business City Search has gone from chewing up a lot of investment over many years to now being profitable. It has 35,000 merchants paying through its add word system so to have the best local search -- and there is no question that we have the best local search. I mean, we have it because we have poured the data into it.
So clearly we think that the product is superior. It does have audience. If you now, so to speak, properly marry that to Ask Distribution systems and it's query business. Then in fact, you would see the relationship of really two very natural advertising media platform working together in a way that ought to have some geometry to it. Geometrical progression.
(Quotes are from the CCBN StreetEvents transcript.)